First of all, you are never too old to do anything, especially starting a business. There is no generic answer to the question “Am
Over 40 and starting up online! Hell Yes!
According to some experts, 40 and above may be the magic number to start a business. Why? This is since when you are in your 20 and 30’s your priorities are different since you are focused on career, kids and saving up for a house or travel. On the other hand, if you are in your 40s, you are most probably financially secure and that you have the required business and life experience to share what you have learned -that means your success and your mistakes.
By your 40s, you have typically made plenty of mistakes which you can the lessons you have learned, and you will have built great networks. Keep in mind that people start businesses later in life for different reasons, but
To inspire you even more, here are other people who became successful even after the age of 40. Vera Want was writing articles and spinning her skates on the rink as a career before, at 40 years of age, becoming a world class fashionista!. As we all know, she is one of the world’s premier designer.
You are never too old to start a business.
Do it now or regret it! Regret is a terrible thing.
Here are four reasons why you should consider starting a business now:
- You have more experience. You have to keep in mind that experience is a huge benefit when you are starting a business in your 40s. It’s because you know what you want and you have more determination than ever. On the other hand, younger professionals will often dive headfirst into something they are unfamiliar with. It may or may not be a good thing to do.
- You have a bigger network of relationships. When you are in your 40s, you have probably met a lot of people. By that time, you have nurtured relationships with your family, friends, and co-workers. Having a big network has its advantages. You have personal and professional connections to help you grow your business unlike when you are younger.
- You know your goals. You can see clearly what you want but you just need the courage to go for it. Are you unsure of your next steps, please don’t let that stop you! Reach out for help and get going -you have a gift to share!
- You are determined more than ever. You have a different fire burning inside of you that comes with age. Whether you want to be financially free or earn money to support your cause or share your passion, please go for it. Time passes quickly and as I mentioned before we all hate the “what ifs”.
Basically, if you are letting your age stop you from pursuing your dreams of starting a business, please don’t. As you have learned, age has its advantages. Studies actually show that you are more likely to succeed in business as you age.
My advice to you is to keep in mind these few tips when you start a business (at any age!).
- Be prepared to work smarter not harder. Make sure you are following the right people and learning how to do things from people who can lead the way.
- Embrace technology but don’t let it get you stuck. Learn the tools of the trade that can make your life easier but if you are stuck, outsource it- this is the number one thing that holds people back!
- Hire a VA as soon as possible. Sign up here for free access to my course on how to do this at a very reasonable cost.
- Tap into your experience. As mentioned earlier, with age comes a larger network and more experience. Use it well. Use it wisely!
- Have an exit strategy. Be smart. If you want to start a business late in life, you may only want to run it for 10 years. Hence, have a plan. As Tony Robbins taught me, be a business owner, not a business manager and always know your exit plan.
The next time you are buying your Grande Skinny Mocha at Starbucks, don’t forget that the cup of coffee you are enjoying may not have existed if it weren’t for Gordon Bowker who founded Starbucks when he was over 50 years old!
Got for it!
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